Turkey sets new record in credit card payments
Credit card spending in Turkey reached an all-time high of 181.6 billion Turkish Lira (TRY), Turkish Central Bank said on Friday, based on the data for the week ending on August 4.
During the week of August 4, card payments registered an impressive 2.05% increase from the previous week, amounting to 181.5 billion TRY. Notably, the "Supermarkets and Shopping Centers" sector maintained its top position as the most frequented category for card-based transactions, recording a staggering 29.5 billion TRY in spending.
Following closely as the second-highest spending sector was "Public/Tax Payments," accounting for 15.8 billion TRY in transactions. This was trailed by the "Various Food Items" sector, which saw expenditures totaling 12.2 billion TRY.
In a noteworthy shift, the sector that experienced the most significant increase in card spending from the previous week was the "Education/Stationery/Office Supplies" sector, showing a substantial growth of 19.8%. This was closely trailed by the "Service Industries" sector, which followed with a robust 17.2% increase. On the other end of the spectrum, the "Electronics and Appliances, Computers" sector experienced the highest decrease at 22.9%.